NEW RESOLUTION SHOWS GOV€™T DETERMINATION TO SUPPORT BUSINESSES

In an interview with the Vietnam News Agency, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said that this is the Government’s first policy which has a long-term vision on business development.

The resolution affirms the important role of businesses, particularly private ones, in the nation’s industrialisation and modernisation cause, which also serve as a driving force to enhance the economy’s competitiveness in the integration process, Loc stated.

According to the business leader, what is the most impressive about the resolution is the new way of thinking which emphasizes drastic action and no backward-looking talks.

With the resolution, the Government is striving to be more conscientious and professional in supporting the business community, said Loc.

Not only the VCCI or associations, but businesses themselves are also encouraged to make recommendations on measures to address difficulties in administrative and institutional reforms related to enterprises’ operations.

To put the resolution into reality, he suggested the Government and ministries give detailed instructions and take specific action to reduce administrative burdens and abuses of power at local offices, to create a level playing field among businesses, he added.

Together with Resolution No.19 on improving the business environment and increasing national competitiveness, Resolution No.35 will surely bring about a lot of positive changes, helping the business environment in Vietnam meet regional and international standards, Loc affirmed.

Resolution 35 has also set the goals of raising the number of enterprises to 1 million in 2020 from 515,000 at present. The private sector will contribute about 50% of GDP. The social labour productivity will rise 5% per year. Every year, around 30%-35% of Vietnamese enterprises will launch creative renovation activities.

Source: VIR